The nonsense of MMT

The nonsense of MMT
This thread intends to be a continuously expanding selection of claims that proponents of #MMT have made in supposed support of their dogma based in economic illiteracy. Paraphrased and quoted.

Money supply doesn't affect prices, because prices are in money but set by supply and demand. #nonsense

Entrepreneurs cannot make profits unless the government first spends the money they earn into existence. Thus, government spending is necessary for there to be an economy. #nonsense

Government spending ('printing' money) is not without consequence--it is limited by the productivity of the economy. #nonsense

If the economy does not experience full employment, the government has not spent enough to put all resources to productive uses. #nonsense

The reason the Weimar Republic suffered hyperinflation was that the government chose to pay too high prices. #nonsense moslereconomics.com/wp-content/upl...

Economic actors (people, businesses, etc.) value money because it is "redeemable" in tax payments. #nonsense

Response: qjae.scholasticahq.com/article/77380-...

The government's deficit is the private sector's surplus, so it should be "put to good use" to create prosperity. #nonsense youtube.com/watch?v=FATQ0Y...

The (unbacked) dollar isn't different from gold as money because gold too lacks intrinsic value. #nonsense

The reason production factors aren't put to use is that there is a lack of money in the economy. #nonsense

The function and use of fiat currency hinges on (if not is determined by) the government as sovereign, yet there's nothing special at all with the government as issuer of currency. #nonsense

There are plenty of productive resources in the economy that are idle because for-profit actors don't make use of them. And those for-profit actors are also denounced as very greedy and never hesitate to make profits whenever they can. #nonsense